Context, Parasite Flashcards
__ of South Korea’s manufacturing facilities were destroyed from the war
50%
__ of the population lived in poverty
40%
Most Koreans were _______
illiterate
When did the ‘Miracle on the Han River’ take place?
1953-1997
The difference of GNP from 1962 to 1996
$2.5bn (more than double)
The difference in exports of manufactured goods
It increased by 62.1%
How did the government stimulate the miracle?
“State-guided capitalism”
What are chaebols?
Trans-nation corporations handpicked by the government, often family-owned.
What support were chaebols given?
Loans, subsides and tax breaks
In 1985, the top 10 Korean companies accounted for ___ of the total exports from Korea
72.2%
How did education change post-war?
Everyone could get an education and the government promoted the idea that it was essential
What became the main priority for families?
Getting a STEM subject degree
The average working hours in South Korea
68 hours per week (EXTREME work ethic!)
South Korea has received ____ of financial aid from the USA
$2.3 billion
How did Bong Joon-Ho describe the younger generation?
“Korea, on the surface seems like a very rich… country…the younger generation…feel…despair”, 2020
What is “Hell Joseon”
Korean teenage slang which suggests living in hell would be akin to living in Modern Korea (Joseon was an old dynasty)
Percentage of students who go to university
70%
Percentage of students who go to sky universities
2%
Hagwon is…
extra school for CSAT (is the norm)
_ of 10 students receive extra lessons
8
The younger generation are _______ the job market
‘overcrowding’
The fraction of Korean students who have suicidal thoughts over academic failure
1/3
South Korea has the OECD’S highest whats?
Private spending on education and suicide rate
What is the spoon class theory?
Belief that economic status is determined by their parents’ assets.
Banjihas make up __ of houses in Seoul
5% (200,000) so people have to compete for space
The pillars of capitalism?
Private Ownership, Profit, Free Market and Competition
Capitalism is all about…
Rational self-interest (“neither can obtain what they want without addressing what the other wants”) to achieve economic prosperity
What is liberalism?
A belief in protecting and enhancing the freedom of the individual
Classical Liberalism emphasised…
Limited government intervention, individual liberty and free markets (laissez-faire)
Social Liberalism endorsed…
Social justice, government intervention for equality and common good (e.g welfare state)
Neoliberals believed…
Reducing government intervention fosters competition, innovation and economic prosperity.
Pillars of neoliberalism?
Privatisation, deregulation, free trade and tax cuts
In capitalism/neoliberalism, power and wealth are concentrated…
by a rich minority
Neoliberalism worsens social and economic inequalities by…
favouring the rich and impacting the most vulnerable through cutting spending and reducing social welfare programmes.
Privatisation limits…
access and affordability
Deregulation can lead to…
financial crises and labour exploitation
